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Limp Bizkit - summer tour 2020
100% Funded

100%
100%
Need:0.00€
Min.:0.00€
Interest rate:21%
Period:9 months
Target: 800 000€
Min. target: 500 000€
Opens: 2020/01/07
Expires: 2020/01/31
Type: Specialized
Location: Estonia and Poland
Investors: 1648

SUMMARY

We are offering CROWDESTOR investors to issue a loan in total amount of 800 000 EUR to cover organizational expenses of three Limp Bizkit WORLD TOUR 2020 Open Air concerts and to return the investments with interest in 9 months period. One concert will be held in Estonia, two concerts in Poland in August 2020.

Financing will be used to cover organisational costs for the shows, including artist fees, stage construction, promotion activities etc. Loan and interest will be repaid from ticket sales. Income from ticket sales is received 3 days after the concert is held.  

SIA Star Booking, which is a professional agency company, is already organizing two concerts of legendary Limp Bizkit this February in Kaunas, Lithuania, and Riga, Latvia, and a record high demand has been experienced during the ticket sales, as a result, an arrangement has been signed to perform in three Open Air shows in other Baltic/Poland countries this summer.  

Current investment opportunity offers CROWDESTOR investors to make a loan with 21% annual interest rate. Interests and Loan principal is paid after Loan term.

Minimum target to be raised in CROWDESTOR platform is EUR 500 000,00 and the maximum target is EUR 800 000,00. 

 

LOAN

Minimum target: EUR 500'000

Maximum target: EUR 800'000

Loan term: 9 months

Interest rate: 21 %

Interest payments:  interests are paid monthly after full 6 months, for first 6 months interest payments are paid in the end of Loan term

Loan repayment: In full at the end of the Loan Term

Crowdestor BuyBack fund: Yes

 

Security

1) 55 % of Borrower company shares are held by Crowdestor for duration of the project and Crowdestor has delegated board member until there is loan in place;

2) Crowdestor is delegating board member to Borrower company and all decisions will be approved by the board member delegated by Crowdestor, including, all expenses have to be approved by Crowdestor board member and Crowdestor board member has veto rights to approve/disapprove the payments;

3) 100% of first incoming payments from ticket sales are paid to cover principal and interests of Crowdestor loan.

Remember - interest rate payments start calculating from the day you make your investment!

 

Limp Bizkit 

Limp Bizkit is a legendary and world famous American rap metal and rap rock band from Jacksonville, Florida, consisting of John Otto (drums, percussion), Wes Borland (guitars, vocals), DJ Lethal (turntables), Sam Rivers (bass, backing vocals) and Fred Durst (lead vocals).

Over the years, Limp Bizkit have earned three Grammy Award nominations, have won several other major awards and have sold more than 40 million records worldwide.

Formed in 1994, Limp Bizkit became popular playing underground music in Jacksonville in the late 1990s and released debut album Three Dollar Bill, Y’all in 1997. The band achieved mainstream success with their second and third studio albums, Significant Other (1999) and Chocolate Starfish and the Hot Dog Flavored Water (2000) both of which hit Number 1 in the Billboard Hot 200.

Borland left the group in 2001, but Durst, Rivers, Otto and Lethal continued to record and tour with another guitarist. In 2009, the band reunited with Borland playing guitar and began touring, culminating with the recording of the album Gold Cobra (2011). The band is currently recording their sixth studio album Stampede of the Disco Elephants.

Having performed at countless concerts and festivals, Limp Bizkit have gained a reputation as a rebel, and their stage performance has been often accompanied by scandals and fan fuss that has only made Limp Bizkit more known.

Recently, musicians have been focused on other creative projects. For example, Fred Durst has also proven himself as an actor and movie director, and his last movie “Fanatic” with John Travolta as a leading actor was presented in 2019.

Now Limp Bizkit are back in the studio to set their new album and are on stage together more powerful than ever.

 

Concerts in the Baltics and Poland

Previous time Limp Bizkit were performing in the Baltics and Poland in 2009 with Unicorns N’ Rainbows Tour, first tour after group reunion. First concert of that tour was held in Riga, Latvia. Next concerts took place in Lithuania, Estonia, Finland, Russia, Switzerland, Germany, Austria, England and other countries in Europe, Asia, and of course in the US. Each was a huge success and gathered massive crowds of fans. 

Since then the band performed in Poland several times, with their previous appearance at Wroclaw’s Rock festival in 2016 as headline artists together with Rammstein. That rock concert gathered more than 50 000 spectators. For 10 years Limp Bizkit have not visited Latvia, Lithuania and Estonia with concerts. 

This great opportunity was captured by professional agency company SIA Star Booking. As a result of negotiations Star Booking made an agreement to organise two Limp Bizkit’s WORLD TOUR 2020 shows in February 2020. First concert is to be held in Kaunas, Lithuania on 26 February and second in Riga, Latvia on 28 February.  

Tickets for both events went to sales in early November. The market replied immediately with record high demand. For example, all Fan Zone tickets to Riga concert have been bought in a matter of minutes. Moreover, two months before the concert date Riga concert was sold out with 7 000 tickets and additional sectors in arena have been made available for more attendees.     

Based on this success, the concert organiser Star Booking used the opportunity and have managed to set a deal with Limp Bizkit for organising their summer Open Air concerts in Estonia (one concert) and Poland (two concerts). All three concerts will be held in August 2020 and give perfect timing for proper advertising and promotion of these mega events. 

 

Star Booking - the main organizator

SIA Star Booking was founded in 2010. The company’s team consists of professional employees with many years of experience working for Europe’s leading concert and artists’ agencies. This means they can not only hire the world’s leading artists, but also arrange professional stage and highest quality sound and lighting equipment, as well as security. 

In the previous years Star Booking has successfully organised and managed concerts in the Baltics of internationally well-known artists such as Rita Ora, Zucchero, Bonnie Tyler and others.   

Based on its track record and internationally recognised experience Star Booking has established direct relationships with Limp Bizkit and is entitled to represent group’s interests with respect to all the shows in the Baltics and Poland. 

Business opportunity

Based on previous events and current demand for Limp Bizkit World Tour 2020 tickets, it is planned that with approximate audience of 8 000 to 10 000 people attending each of these summer Open Air events each of the concerts will bring between 40 to 50 % in profits after all attributable costs.  This makes it possible for the project to satisfy high interest rate for investors at the level of 21% per annum.

Key to success is not only right choice of the artist for performance but also well-planned and executed promotion and advertising activities, as well as Summer Open Air event format that brings several additional advantages.

First, Open Air events usually gather much more people than events held in halls or arenas under the roof.

Second, summer itself and especially August is time of active social life when people switch from daily routine to holiday mode and are much more actively attending entertainment events, especially those of internationally well-known artists. 

Third, Open Air format allows to start event (door open time) much earlier so that attendees can spend their time in the open air, in good atmosphere and preparing themselves for the show. That allows to gain really high benefits from sponsorship and catering service (catering service rights usually are sold through auction to different catering companies) to meet high demand for snacks, meal and beverages at the event place.

Tallinn’s population is below half a million people, at the same time all the concerts are well accompanied by rock fans not only from other Estonia’s cities but also from neighbouring Helsinki in Finland due to close proximity (less than 90 km) and very good connection (several daily ferries and airplane flights). This together with track record of previous Limp Bizkit’s shows in both Estonia and Finland, as well as overall higher buying capacity in these countries comparing to Lithuania and Latvia, gives a strong ground that concert in Tallinn will gather more than 10 000 people.  

Poland with its total population of more than 37 million people and high demand for Limp Bizkit that performed together with Rammstein at Wroclaw’s festival in 2016 gives a floor for two concerts in different parts of the country. It is planned to hold one concert in Warsaw while another concert in Wroclaw, closer to country’s border with Germany and Czechia. This will give an excellent opportunity to attend for fans from these countries as well, thus increasing number of attendees even more. There is also very high probability that concerts in Poland will gather even more than 10 000 people each.  

This all together brings Limp Bizkit World Tour 2020 to be one of the most spectacular shows having all main components for commercial success of such Open Air concerts:

  • Legendary international artists
  • Proved demand for this show in the region
  • Well experienced agency to organise and effectively promote the event

Project’s structure

Financing will be placed in to the special purpose entity (“SPV”) formed by agency and Crowdestor. Crowdestor helds 55% of shares and has a borad member with veto rights during the loan period.

The SPV will be the sole right holder of the Project, i.e. Limp Bizkit World Tour 2020 concerts in Estonia and Poland and will be the entity who receives income from ticket sales.

100% of first incoming payments from ticket sales are paid to cover principal and interests of Crowdestor loan.

Costs for concerts consist of:

  • Artist fee to Limp Bizkit
  • Advertising and promotion costs
  • Technical rider of musicians
  • Personal rider of musicians
  • Lease of the event place
  • Security at the event
  • Insurance for civil liability, artists health and against commercial risks
  • Fees for ticket sales service

Necessary financing is in the total amount up to 1 150 000 Euro. This amount will be divided in two parts whereas first one for the total amount up to 800 000 Euro will be gathered in the beginning of January and the remaining month by month until summer.

First part of the financing in the amount of 800 000 EUR will be used for paying major part of costs, namely:

  • Artist fee to Limp Bizkit (upfront payment in 100% amount)
  • Advertising and promotion costs (partly)
  • Lease of the event place (partly)
  • Artist’s personal rider (partly)
  • Insurance for civil liability, artist’s health and against termination of the event.

Remaining part of the financing will be used to cover outstanding part of the mentioned costs as well as Artist’s technical rider and Security at the event.  

Financials

Planned total income from free concerts is 1 950 000 EUR. Income will be received from several positions, including:   

  • Sale of tickets (by far the main source of income);
  • Event sponsorship;
  • Catering at the event.

Total expences are in amount of 1 331 000 EUR including a principal of 1 150 000 EUR and Interest payments in amount of 181 000 EUR during 9 months of the Loan period. 

 

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